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We study the eigen-structure of the penalty matrix arising from cubic smoothing splines on equally spaced knots. Using purely matrix-theoretic arguments, we show that its positive eigenvalues are simple, that the associated eigenvectors alternate between even and odd, and that the eigenvector for the th largest eigenvalue has exactly sign changes. The approach provides a direct and transparent alternative to existing variational proofs of the oscillation property. These results show that equally spaced knots support a spline basis with both a parity structure and an oscillation pattern.

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